Apple suppliers boost TAIEX
The TAIEX got a boost yesterday from gains posted by companies in the Apple Inc supply chain on expectations that the US consumer electronics giant would report strong results for the quarter later in the day, dealers said.
However, turnover remained small amid lingering concerns over a possible tax on gains from stock investments, with selling shifting to old-economy stocks from the high-tech sector, they said.
The TAIEX closed up 17.75 points, or 0.24 percent, at 7,498.8, after moving between 7,444.74 and 7,533.55, on turnover of NT$68.37 billion (US$2.32 billion).
Firms bring billions from China
Taiwan’s listed firms with operations in China reported NT$161.1 billion in aggregate returns last year.
That figure was down 26.16 percent from the previous year, dragged down by wage increases and weakened demand attributable to the EU debt crises, the Financial Supervisory Commission said yesterday.
Makers of electronics, computers and peripheral gadgets posted better earnings than firms in other sectors, the commission said.
A total of 1,046 firms have investments in China, 51 more than last year, and they account for 76.24 percent of all listed companies, the commission said.
Together, they remitted NT$116.4 billion to Taiwan last year, up NT$18 billion from a year earlier, but make up only 8.88 percent of overall capital bound for China at NT$1.31 trillion, it said.
Fubon workers given raises
Employees at Fubon Financial Holding Co (富邦金控), the nation’s second-biggest financial holding company by assets, will receive pay raises of at least 3 percent this year, company chairman Daniel Tsai (蔡明忠) said on Monday.
The size of the raise will depend on the individual’s performance, but it will surpass the 2 percent rise in inflation that the government is predicting this year he said.
China’s currency reserves fall
China’s foreign exchange reserves fell US$4.69 billion from February to last month, data from the People’s Bank of China showed yesterday.
It was the first decline since December last year, according to previously released data from the central bank.
China’s holdings, the world’s largest, rose in the first quarter to US$3.3 trillion from US$3.18 trillion at the end of last year.
Solar cell maker posts losses
E-Ton Solar Tech Co (益通光能), a Taiwan-based solar cell maker, said on Monday that it plans to make a private placement to raise up to NT$3 billion to improve its financial structure.
According to the Taiwan Stock Exchange, E-Ton had NT$5.46 billion in total debt at the end of last year, including NT$3.58 billion to be repaid within one year.
In the first quarter, E-Ton incurred NT$355 million in net losses, or a NT$0.74 loss per share, extending from NT$4.05 billion in net losses for the whole of last year, amid increasingly fierce competition in the world’s solar energy market.
EU concerns depress NT dollar
The New Taiwan dollar lost ground against the US dollar yesterday, edging down NT$0.002 to close at NT$29.526 as traders cut their local currency holdings due to a falling euro amid fresh concerns over the debt crisis in the eurozone, dealers said.
Turnover totaled US$569 million during the trading session.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
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